The Tangled Roots of Tungsten Corp. f/k/a Online Tele-Solutions Inc. (OTCMKTS:TUNG)
Tungsten Corp. f/k/a Online Tele-Solutions Inc. (OTCMKTS:TUNG) is an interesting ticker which we covered in a brief video in the end of May. The interesting part comes when you see the unusual pump for which they paid a whopping $2.2 million to promoters.
After all, the pump they had didn’t manage to generate any big jumps in their stock price and they had only one day in which their stock price moved 10% upwards. The other trade sessions that had movement above 10%, unfortunately were in a negative direction. Most recently the ticker has been ending up in the red at market close for the last 5 trade sessions.
In the beginning of the month TUNG‘s stock managed to have a peak at $0.98, but with the recent movements in their stock price they are down 57% closing yesterday’s trade session at $0.56. Nonetheless they have a healthy average trading volume of 573 thousand shares and daily trade value ranging from $100 thousand to $1.2 million.
The market cap of the company is mind-blowing for it’s actual size and is estimated at $39 million. It’s about time for their latest quarterly report to be filed with the SEC listing the mining property acquisitions and financial changes in more detail. We know from press releases that they managed to acquire mineral claims in Nevada in a transaction agreement with Nevada Tungsten Holdings Ltd, thus acquiring its mineral rights regarding patented and unpatented claims.
Still, it is unknown if this wasn’t just another well planned action by TUNG in order to raise attention in their stock and enriching insiders. We all have seen well played scams that have a very well built facade with acquisitions and financing with which insiders manage to make times more the amount that they have invested in such activities. However, is TUNG the latest addition to the team of pump scheme aces?
This is a question for the future to tell. All we have now is suggestions and one can only speculate on how things will go for them based on the facts and the history of the company and it’s leaders. In brief words, the pump that TUNG‘s stock is experiencing at the moment has been in the works for quite a while. The indications for that can be found with a few searches in Google from which we found out that the current CEO of TUNG registered the company’s website 5 months before he took the helm.
Mr. Guy Martin is linked to another OTC Markets pump scheme in the face of Coyote Resources Inc. (OTCMKTS:COYR) being its CEO for quite a while now. The company hasn’t yet experienced the downfall that TUNG faced in the last few trading sessions, but it hasn’t generated any revenue since its inception in 2007 either. TUNG and COYR share another similarity apart from having the same man acting as CEO. The two companies have headquarters that are on the same address at 1671 Southwest 105 Lane, Davie, Florida. A quick search on Google maps reveals the address to be that of a very good looking house that even has a pool in the back, which we always consider as a bad sign. You can take a look at the beautiful house in question below.
All in all TUNG is a risky investment opportunity even if you decide to make a short term investment. This is due to the fact that virtually all of the company’s stock is controlled by Filipino seed shareholders (the company’s previous office was located in the Philippines, before Guy Martin sheltered in his house and also if you followed them closely you will see that the previous Chief Officers were Filipino) that are ready to dump stock at any time, so be sure to do your due diligence and weigh out the risks before you decide to play their game.
